Chariot shares surged 73 per cent this week after the African energy company struck a framework agreement that doubles its economic footprint in Angola.
The deal, signed with local operator Etu Energias and Gabon-focused BW Energy, backs Etu's bid for extra stakes in the Chevron-operated Block 14 and neighbouring Block 14K, both offshore Angola. In return, Chariot picks up economic exposure to roughly 4,000 additional barrels of oil a day, worth more than $100 million on the company's own calculations, assuming an oil price of $60 a barrel.
The agreement is also a vote of confidence in Etu Energias, which is positioning itself to take over as operator of Block 14 from Chevron, the American oil major, under a licence that now runs until 2038. Chariot chief executive Adonis Pouroulis called it "an excellent working partnership." Shell Trading is funding the acquisition itself.
AIM All-Share falls as FTSE 100 edges up
The wider AIM All-Share index had a rocky week, ending 1.4 per cent lower as investors turned cautious. The FTSE 100, the index of London's 100 largest listed companies, fared better, closing marginally higher after a volatile midweek session.
Huddled Group shares rose 38 per cent this week, extending a 68 per cent gain over the past month, as investors kept buying following a TikTok tie-up first announced on August 24. The deal saw Huddled form a joint venture with Cipher, a UK TikTok agency, to launch Peeko Live Commerce channels on TikTok Live and TikTok Auctions. It is Huddled's second such auction platform deal in two weeks, reinforcing the technology's role as a growth driver for the company.
Sunda Energy gains on gas upgrade
Sunda Energy shares climbed 28 per cent after partner Tetragon Energy sharply upgraded Prospective Resources at the Halcon gas prospect in the Philippines, to 8.0 trillion cubic feet gross. Of that, 3.0 trillion cubic feet is net to Sunda's 37.5 per cent stake in the project.
Sutton Harbour Group fell 47 per cent after the AIM-quoted marine operator published a circular detailing plans to cancel its stock market listing and re-register as a private company. Shareholders will vote on the proposals at a general meeting on September 22, following plans first announced on August 28. The Plymouth-based company runs Sutton Harbour Marina, King Point Marina and Plymouth Fisheries.
Futura Medical and Premier African Minerals slide
Futura Medical shares slid 35 per cent after the sexual health group raised £1.6 million at a heavily discounted 0.2p, a sum close to its entire market capitalisation, while simultaneously launching a formal sale process for the whole business or its assets. Those assets include Eroxon gel, an over-the-counter product for erectile dysfunction.
Premier African Minerals dropped 28 per cent after the company outlined plans to seek authority to issue tens of billions of new shares to fund its Zulu lithium project and strengthen its balance sheet, alongside a 10-for-one share consolidation.
Falklands sanctions weigh on Borders & Southern
Borders & Southern shares fell 9 per cent on Friday after Argentina's president, Javier Milei, vowed to speed up sanctions against oil explorers near the Falkland Islands. Milei named Rockhopper Exploration as a primary target, while also referencing licence-holders including Borders & Southern in the South Falkland Basin.
Orcadian Energy explores floating data centre
Orcadian Energy shares rose 6 per cent this week after the AIM-listed group signed a joint development agreement with an American offshore data centre operator. The two plan to explore powering a floating data centre off Orcadian's Earlham and Orwell gas fields in the Southern North Sea.
Earlham's gas is too rich in carbon dioxide to pipe ashore, so burning it locally for power and reinjecting the carbon dioxide gives it a use. Sitting off-grid also avoids Britain's network connection queue, while seawater cooling is largely free.
Nothing is confirmed. The deal is non-exclusive, and Orcadian's resource estimates await independent verification within a 90-day window.
